Simon Property (SPG) closed the most recent trading day at $114.77, moving -0.61% from the previous trading session. This change lagged the S&P 500's daily gain of 0.12%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 0.29%.
Heading into today, shares of the shopping mall real estate investment trust had lost 2.03% over the past month, lagging the Finance sector's loss of 0.77% and the S&P 500's gain of 0.09% in that time.
Wall Street will be looking for positivity from Simon Property as it approaches its next earnings report date. On that day, Simon Property is projected to report earnings of $3 per share, which would represent year-over-year growth of 1.01%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.38 billion, up 5.23% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.91 per share and revenue of $5.56 billion. These totals would mark changes of +0.34% and +5%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Simon Property. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.02% lower within the past month. Simon Property is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Simon Property currently has a Forward P/E ratio of 9.7. This represents a discount compared to its industry's average Forward P/E of 12.18.
We can also see that SPG currently has a PEG ratio of 4.75. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The REIT and Equity Trust - Retail industry currently had an average PEG ratio of 3.27 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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